Skip to main content

tv   The Willis Report  FOX Business  April 2, 2013 6:00pm-7:00pm EDT

6:00 pm
very good point. thank you. that's all the "money" we have command wanted to you to be sure to tune into "money" tomorrow. vince kneele will join us in the future of the music business. "the willis report" is coming up next. we will see you tomorrow. gerri: hello, everybody. i'm gerri willis. tonight on "the willis report", the biggest change to your tv set in generations. soon you will be allowed to tell your cable company to take a hike. also, americans are becoming much smarter with their money. are late payments about to become a thing of the pasternak and the federal government does a u-turn on medicare. payments will now go up, not down. we're on the case tonight on "the willis report." ♪ gerri: we begin tonight with our top story, cutting the cord.
6:01 pm
there is a revolution happening in the way you watch tv. may soon be able to dump your cable box altogether and finally stop paying for tv channels that you simply don't want. the latest movement in that direction just happened. a startup to a company in new york was just given the go ahead by a federal court to allow it to continue to stream tv broadcast to your ipad or other mobile device called for a fraction at the cost to the traditional cable bill. the media titan is not going to take the service to every corner of the country. so, are you one step closer to cutting the court for good? with us now commander-in-chief. and jeff roberts, the legal and media reporter. welcome to you both. all-star with you. you wrote that the tv business is the best selling customers large bundles of channels at ever-increasing prices. we actually checked at cable prices. they doubled since 2005. they just go up and up and up.
6:02 pm
how does a company like yours disrupt that model? >> the best with a look at it is to remember the days when you had a son the you really liked. he had to buy a cd for it. eleven sites did not want anyone son needed. and that is the model. is not quite as bad, but you have to buy these big expense of bundles and and not allowed to choose just the things you want and i think this is finally coming to an end. gerri: i want to show you, i have been using it for a month or so. i like it. it is easy to use. this is my ipad face. well i am demonstrating this and taking you on a walk-through and hear all this shows the checking it. and going to ask you, what is in this for consumers. i will just to know what you're talking. >> $8 per month. they did all of these tv stations that would be normally transmitted over the air. they almost rent the antenna. then they can -- of the new york city and they can also record
6:03 pm
and what sledder. once again they're in control. this is a continuum of consumers' lives as relates to television. more and more it is about watching what they want when they won it. gerri: exactly right. right now we are seeing a local news right here in new york city. i can take this virtually anywhere and watch tv. shows that i record that i never watch a real time that i taped -- let me tell you. so on weekends a gun to my office until my husband i am working in and actually watching golf. it is really easy to use. just to you, how do you see this as a breakthrough? seems like it is on the backs of lulu and all kinds of other companies that have been trying to break down this model. >> the real breakthrough, as you said, you can go anywhere you want. you can go sit in the park to watch a baseball game on the phone. that is why it is such a legal collision. the existing keep -- they don't like this one bit.
6:04 pm
gerri: obviously critically important this debate, but also other companies. what is happening? >> this movement has been going on for years. millions of people around the country are cutting their cable because they can watch tv through apple tv, through boxing your services like netflix. of course, it is not so much the live tv thing is not wearing that. is this shows, the power loading on shows like madmen. gerri: people watch entire seasons. >> they do. this is changing the landscape of television. you know, netflix just put out its house of cards -- house of lies. an entire season they put, the law instead. kevin's bases new show. there had -- it has never been done before. this is a new show we lost and you're all 13 episodes this means the world is changing.
6:05 pm
services like this to red scare the heck out of cable companies commanded should. consumers are going to keep marching in this direction. gerri: people who would never connect to a cable system and have no intention. >> a lot of people refer to court cutters. the tv industry, which wrigley has been in the nile for quite some time is causing the existence. but the real worry is so-called court never stomach's in college you have never had a cable subscription. we will go out and get one. is something that is our reason. gerri: the tv industry is up in arms. as the clear. here's what they said. today's decision, the court is we just mentioned, loss for the entire creative community. retransmit it without compensation. the basically creating a new distribution channel. if they think that they can stop this they need to look back at history.
6:06 pm
>> publishing, music, movies, every single industry stopped and has lost. it is fascinating that people don't have cable because they also have landlines anymore. they don't have telephones. they have cell phones. embrace it. elegance to the cable companies is embrace it before it kills you. gerri: welcome adjust to you. as you look at how this is developing demise see this as having pauses for consumers. the aerial service is a dollar a day or nine bucks a week. that is a good message for consumers who may have paid much more. and a people who pay $200 change for cable service. audi use the consumers eventually make up? >> seven grooving for the model of consumers being empowered. other forms of media. books, music, publishing. since we are going to be in a
6:07 pm
position where the consumers are in the driver's seat more than air now. gerri: of the tv industry be allowed to fight back any better than the music industry? >> temporarily. they usually short-term wind. this is something that does prove that their work not of their broadcasting to an audience these shows and these networks, but that does not mean -- obviously they're going to go back and try something. they may win again, but they will eventually long-term lose because it will just keep changing. gerri: this is not obviously carry every cable channel, not even close. it is so easy. if i can use it anyone can. that is the moral that story. we have to reconstruct the panel . now we want to know what you think. here is our question. are you ready to pull the plug in your cable company? blogger out to gerriwillis.com, on the right-hand side of the screen and knows the results of the end of the show. and more going on tonight. mortgage giant fannie mae, the
6:08 pm
one that needed a massive taxpayer bailout even accused of inflating the housing bubble has reported its biggest profit investors today. some good news. with more on what it means for taxpayers i am joined by the loss three journal. great to have you back on the show. it's been awhile. it looks like if they keep up but this rate it will pay everything mayo by 2019. >> exactly. actually it might take longer than that. at the end of the day the government taxpayers have already poured more than $120 billion into fannie mae and freddie mac. 17 billion last year. as is basically making up for the money that it lost the year before. this is still one of the more discouraging stories of the whole financial crisis. fannie and freddie evanescing culver taxpayers. gerri: and we have reported over
6:09 pm
and over again. the road a check to the treasury this year with this past year overtime. he said it will take longer than what i said, until 2019 to pay this off. why? >> well, you know, you have to throw of freddie mac in there. it is $120 billion all. if you take a few billion that they made last year is going to take a long time for them to pay that back. i think it's also going to be a really long time before they work their portfolios down. they have a trillion dollars in mortgages that they are holding. they also have hundreds in billions of dollars in nonperforming loans. they have to work all of this out. it is still going to take years to work through this problem that they get themselves into. gerri: does this mean the end of the conservatorship at this point jack. >> well, you know, this is another thing that we have to be careful about. they start reporting severe profit numbers. is that point to take some of the heat off of the white house
6:10 pm
and congress to come up with an alternative structure for our mortgage finance system. i think that is something that we have to worry about. i think we're going to be in conservatorship for some time, with the fact of the matter is, the obama administration and congress have still not come up with a plan to create an alternative for these institutions. so we stuck with them for a while. gerri: i have seen plans that have been put out by people who i highly respect which still keeps the government in the game and does not really change it. even the best minds when you talk to them about how to afford, they still say if they want the government involved. is there any way to get past that? >> the white house has a white paper. i would not call the plan. congress really has not done anything either. fannie mae and freddie mac were originally created to provide
6:11 pm
guarantees and mortgage-backed securities, answer that this market functions well. you know, they got some serious mission in that 2000's and went beyond doing that. what they accumulate, a huge mortgage portfolios themselves. that is something that they really do have to up flight down. then there's the question of, you know, what kind of guarantees the government should be involved in placing on mortgage-backed securities in the future. most of the plans have some kind of government involvement, maybe we know ben bernanke has talked about creating something like a utility which, you know, there is the very basic package of of guarantees. gerri: i don't see how that reduces taxpayer's ultimate liability at all. i guess we will just have to wait and see all this play out. thank you for coming in. >> the main thing is let's not get too excited about a few good quarters of good numbers. these companies are problems that have to be fixed.
6:12 pm
gerri: thank you for coming down. good to see you. a lot more still to come including social media changing the way we investing consumers learning a lesson from the recession. but credit-card payments reached new lows. can you live debt-free altogether? we will have answers next. ♪ (announcer) scottrade knows our clients trade
6:13 pm
6:14 pm
and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading.
6:15 pm
their quick trade bar lets my account foow me online so i can react in real-time. plus, my localcottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." ♪ gerri: well, showing that americans are getting their financial houses in order. credit card delinquencies hit the lowest level in almost two decades, sinking to roughly two and a half%. good news. but americans are falling behind other loan payments like student loans and loans.
6:16 pm
debilitating credit card debt firsthand. david alfaro. and no counseling people on pay off their debt. the founder of debt to improve living. author of how to take control of your financial future. look into the show. fascinating story. i am just amazed by how you took control of this. let's start your story back when he realized that you were in big trouble. when the the light bulb go on for you? >> i think it was when my husband and i were unemployed. he had left his job as a banker. we went into self employment and that failed. our home was ready to go into foreclosure. back in the 1980's before people knew what foreclosure was pierre united not know what it was. we were in big, big a horrible trouble. gerri: or will trouble.
6:17 pm
>> no credit to be had. gerri: to the tune of one under thousand dollars. so tell me, how did you start to pay this off? added to change your mindset temecula yet best vendor for a long time. >> it had been terrible. i just had to do a complete not -- 180. first contacted by creditors. i was delinquent on everything. it was a horrible thing to come to face with and all the men say , were ready to make a plan. went back to work. that was what -- not part of my plan, but added that it was the right thing. had to learn how hard it is to make money and then teach myself to be frugal. gerri: what did you tell those creditors when you get them on the following? >> i promised them that we would pay every dime, no matter how long it took. i would keep my word when i tell them i would send them firebox there would get it for sure. it was a new thing for me to become honest and filled with integrity in that regard.
6:18 pm
gerri: you know, most people if they had $100,000 in debt like that and more, as you said, there would just file bankruptcy. what did you? >> well, you know, it was shameful. so embarrassed. this was years ago, and it was not that popular. we did not realize that we might qualify. i'm glad we didn't. adult think we would have learned the lessons. gerri: utah yourself to be a cheapskate. tell me about that. >> well, i had to give up the plastic. no one would take them any more anyway. there was no more credit available. yet the learn to live on the cash that we had. take cash to the grocery store and realize that i was dealing with the real thing. i had to learn to stress those dollars. it was kind of fun. the more i learned that i could live on less margin level of became. became almost like a game to see how far to make the money go. gerri: a lot of people have all kinds of debt. credit-card debt. many people have all kinds of student loan debt. is there any debt that is good
6:19 pm
that? >> i don't think any candidate is good, but there are some that are safer than others. i would never have been able to buy a home without a mortgage. that is a good thing. a debt that on something that is of value or that there is a collateral is kind of a safety valve, but i cannot wait to read that as well. gerri: some of your tips, you already talked about delaying gratification. pre spend your paycheck. what does that mean? >> well, some people would call that a budget. all it means is that you have your paycheck before you even dip into and that all to my right down on paper where every single dollar from that paycheck is going to go. that is what a manager does be elected every dollar as a worker in tell them what to do and then make sure that they do what you tell them to do. and if it does not regret the first time in tear the paper up a priest and it again. been going to take $40 in spending on groceries. of going to do this.
6:20 pm
now you're going to divvy up the paycheck. gerri: the other thing. >> my biggest enemy was greed. i wanted everything for myself. the fastest way to get rid is to give some away. it will do great things for your heart. gerri: you will find her on the web. great stuff. great story. later in the show a big change that for medicare advantage. health-insurance soaring. reaching near-record highs. we are covering your assets coming up next. ♪ [ male announcer ] it's simple physics...
6:21 pm
a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour reli for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easr. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benefits with the risks. all prescription nsaids, like celebrex, ibuprofen, naproxen and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease or risk factors such as high blood pressure or when nsaids are taken for long periods. nsaids, like celebrex, increase the chance of serious skin or allergic reactions or stomach and intestine problems, such as bleeding and ulcers,
6:22 pm
which can occur without warning and may cause death. patients also takinaspirin and the elderly are at increased risk for stomach bleeding and ulcers. don't take celebrex if you have bleedin in the stomach or intestine, or had an asthma attack, hives other allergies to aspirin, nsas or sulfonamides. get help right away if you have swelling of the face or throat, or trouble breathing. tell your doctor your medical history. and find an arthritis treatment for you. visit celebrex.com and ask your doctor about celebrex. for a body in motion. what's the "new" in the new new york?. visit celebrex.com and ask your doctor about celebrex. a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were creed over the last two years. and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, new incentives, new jobs, now that's news. to gw or start your business in the new new york visit thenewny.com
6:23 pm
gerri: the sec makes a surprising announcement. companies can now use social media for announcements. why that could be a problem.
6:24 pm
♪ gerri: the securities and exchange commission making a surprise announcement today. companies can now use social riel let's let facebook and twitter to announce the market-moving information. crazy. my next guest says it gives fronts as permission to try and move the markets. turning me now, host of money life. welcome back to the show. i got this e-mail. the press release from the sec this afternoon. i thought, this sounds nutty. let's face it. every state -- statement that
6:25 pm
the company makes can affect the stock price. you have to make sure that everyone has access to it. it seems like a regular old fashion press releases the way to do it. what do you say? >> i would agree with you except for the fact that i believe that this was inevitable. what you already have right now is a company makes a release and then gets tweeted about and is in social media. the question becomes how you circumvent that and maybe make it that at these people are getting what they think is the real truth of what is happening here. gerri: you have this is like 33 or 130 words. adeline know what is the real thing? >> what is probably going to be is something that says xyz company just released earnings and will have a link to the press release her something along those lines. that's out it will be. it will be -- as we can release
6:26 pm
our news on social media if and only f we tell the shareholders that about, by the way, you can look for us on twitter, facebook, whenever and fined as there. gerri: you also wrote a piece about how this could be an opening for front stairs and scam artists. how so? >> well, let's take a look at elias bernstein. elias bernstein's twitter handle is his name. it to cut a couple of balls. if somebody wants to they could go take the whole name, make it look like they are the whole company, go often follow what some people come and get a bunch of followers and then wait for a time when there's something for them to do, send it out as if they're making the news. that will be almost impossible to police. while i picked that name at random because i no their handle. gerri: i got it. >> seven minute -- image in my head. that's a great idea. out try that.
6:27 pm
gerri: we are enjoying new highs. >> i'm not spoiling the party put the -- what i am saying is if your one of those votes to believe you need to do something with your portfolio, guard against a downturn, now when the market is at its height that is when you need to decide to mike and i invest in the bear market fun? ps if you cannot buy a bear market fund and the market is at its peak, when you are using it basically for insurance come if you're using it properly, you should never have a bear market fund because you cannot use it properly. so it is not that i am suggesting you have to go get it because i believe that. but for folks who want to use a bear market fund properly is basically portfolio insurance. you can insure your portfolio but not only a bare front and putting more money in cash.
6:28 pm
you can try to play games. folks to go out command and not talking about those double against the market funds. the mother talking about folks who want to take a bearish position. using the insurance. if you can know that now. gerri: every expert right now is saying this market will come off of its size. a lot of people are thinking about insurance. thank you for coming on. rick to have you on the show. >> you bet. thank you for having me. gerri: you will get more reaction to today's market rally in just 15 minutes. and coming up next, president obama finally caving on his drastic cuts to seniors. how medicare advantage plans are getting a boost. details after the break. ♪ we went out and asked people a simple question:
6:29 pm
how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪
6:30 pm
6:31 pm
6:32 pm
gerri: >> from our fox business studios in new york here again is gerri willis. gerri: seniors breathing a sigh of relief today. president obama is changing his mind on that 2 percent pay cuts to medicare advantage and replacing it with a 3% increase a pay raise. cities note to investors describe this as armageddon. a key source of growth for insurers with saw a nice boost in the markets following the decision. the former policy adviser for the centers of medicaid and medicare services joins me now. great to have you back. good to see you. so why the about-face by the administration? >> there were under a lot of political pressure from the right and left to reverse cuts, and they did. they would have meant that benefits would have reduced. the big story here is that a program that started out being derided by a lot of people on the left is now being protected by the democrats and republicans alike.
6:33 pm
gerri: if you phone calls. what are the details here? >> well, a quarter of the american population is a role. all of the seniors enrolled in medicare advantage use these private plans are lower income seniors p is of your seniors go out and buy medigap policies. the lower income seniors enjoy medicare advantage plans which covers all the costa receiving medical care. gerri: ( roman starts in october. in june the bids are due. the plans will find out in august and september weather and not their what the figures from different regions and starting in october consumers will go when perry there will start to see there rates. gerri: so this fall he will see your -- what this means for you.
6:34 pm
you tell me in the green run that with it will spend will go up, but ultimately that is of a big deal. gerri: they're holding the plans flat for a total 30 to 14. a little bit of a cat depending on how you factor certain assumptions. there is a reaction. the cost is also gone up. supplies will have to reduce benefits to try to keep themselves all without seeing their reimbursement from the government go up, so there will be some reduction, but not as much as a weapon. gerri: one last question. what does this tell you of what is going on with obamacare? >> what this should tell a lot of folks in the health providers bases that the government has got a good business partner. the medicare advantage plans. and then they had to gun lobby the white house to have their pay restored. gerri: we're seeing lots of folks lobby.
6:35 pm
in the of the supports that simply go away because of political pressure. >> allow the political ramifications and machinations. gerri: thank you for coming on. great to see. appreciate your help. all right. as we await the action this weekend, i'm sure most of us have seen or heard of that gruesome injuries suffered last weekend. fracturing his leg so badly that a bomb protruded six senses. cbs would not even replay the thing it was so gruesome. good news. earlier today he was released from a hostile and headed back to campus. the other silver lining to this tear inducing tragedy, according to reports his family will have to pay a dime and a pocket for as medical bills. listen to this. every student athlete must have
6:36 pm
felt the insurance. the n.c.a.a. requires it. if the parents don't have coverage, most universities will buy insurance come and even if their parents are covered, some schools will serve as co-providers in which case lou will will pay the old price for this thing. and if a player is totally disabled benefits could reach $20 million. this story makes me think. the government offers great health insurance to public-sector workers, even the n.c.a.a. steps up for its players. what about the rest of us? why are we being forced to settle for obamacare? this is an example of how to handle health care, and i am glad that the family does not have to deal with any more pain than they have already endured. more on this story. well, you would like to thank the ceo of major corporations pay well for performing. is that always the case. some ceos make out like bandits
6:37 pm
despite poor performance. one in particular stands out. joining me now, a professor at columbia law school. great to have you here. thank you for joining us. so we have had a series of stories about ceos whose performance has been bad or not good. they still walk away with these incredible pelts. we talked about american airlines. he may get $20 million. tom horton. the e-tracy l. an amazing package that, you know, i just cannot imagine why they're doing this. the sixth see what that company says it does a seven. and his package includes 3 million, 637,000 sellers, 7 million gas severance, and a bonus of almost to bell and terry was going on? >> is very common. at public companies. casey is the new germinative from his job. you can understand why that would be true. gerri: i can't.
6:38 pm
that's our revenue want. gerri: the reason why we are paid ceos is that we want changes and to take a job in the first place and let them know that if things yo poorly the wanted to be comfortable. >> isn't this just by initiating and the part of the board. the the the day am happy to pay for performance as a stock investor. if you or i takeover company and improve earnings come in performance, maybe bring in new products, that's all good. i think people iapetus the solid pay, good pay. this just thanks. >> i agree with you, and this is an example of a situation where the payment that can sometimes have a good justification has obviously been taken too far. the example of these that is so striking, although he has been terminated for poor performance of his being paid part of his bonus for the year in which he was fired. and stock rewards and the company for your 23 these are all governance practices, business from years ago that really boards of directors don't
6:39 pm
do any more. gerri: the fault of the board of directors? >> i would say in the e-trade case, for sure. gerri: amr case, the judge read the column that bonus package. i juut have to know that the median pay for a ceo last year, the 8 percent increase over the year. a lot of americans out there who think about investing say in s&p 500 companies have not seen that kind of increase in pay. the pair may have gone down over time. what do you say to that? >> in a case like this one where the ceo is presided over 50 percent drop in stock price, at a time when it is a good time to be in the stock markets to buy farmers shareholder in this company or any american dealing with what is many americans are facing now would be disappointed gerri: disappointed, to a half-million. all right. thank you for coming on. rick to have you on the show. i love that. all right. and we come back, advice on raising a child genius. could your could be the next waltz a millionaire? and next, another record day on
6:40 pm
wall street. is this bull market here to last don't go away. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. you need an ally. your money needs an ally.
6:41 pm
what's the "new" in the new new york?. a new propertyax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two year and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, n incentives, new jobs, now that's news. to grow or start your business in the new new york visit thenewny.com
6:42 pm
and you see the woman you fell in love with. she's everhing to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the mome's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical condition and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. doot drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat,
6:43 pm
or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablefree trial. ♪ gerri: touching another record high after positive reports on other sales and factory orders, but is the economy really as strong as it seems? what do you say? >> starter economy, and no one in their right mind argues with the market. i keep talking about the cnbc shorts because these are folks, they are talking down equities. it is the death of equities. apparently they have an extraordinary intellectual capacity that allows them to divorce reality from their own projections.
6:44 pm
the fact is this market is behaving well. reality in multiples that historical are close to the median. and i believe that we are seeing real growth in this economy and profits being generated. gerri: i love good news. such a refreshing break through. so many of the experts are saying, you know, this can't continue. gerri: their right. it won't continue. gerri: they say they don't wanted to continue. that is the part that is frustrating. >> most of these are, imagine this, any motivated. they're driving their story that will line their pockets. it's understandable. it's human nature, but it is really lousy to put that story out in front of the public as if it were a bonafide point of view based on true research and understanding of the complexities of a market is behaving extraordinarily well historically. gerri: here is the problem i have little is going on right now. gerri: --
6:45 pm
>> okay. gerri: regular investors are not benefiting from this. very critical, very nervous comanche, and they just don't want to just it. if anybody is going to benefit from this why can't it be small savers, people with retirements, setting for kids' education. gerri: i think you have a great point. a problem with that is it is after all, markets that we're talking about. i think any individual who has been sufficiently byrd is not going to go near that again. and appropriately so. it is time to watch this if you are not in the market. it is designed to benefit if you have been. those who run from these levels will mr. mann my opinion, a great opportunity. now, everybody has to make that judgment. and not one of those people will see redistribution of savings. would like to see higher interest rates for savers. would like to see people embrace the market. those animal spirits discharge into the marketplace.
6:46 pm
my god, how did the markets decide? gerri: what do you have a thin? the stock market, washington, big companies? can you believe in? >> and granted the markets and the companies that i can take an open, transparent look at and understand what they're doing to look at the markets, understand what they're doing, you know, i cast my eye across what is happening around the globe and see reality. it may change quickly and more quickly than i can adjust to, but it is a reality that they understand. but is happening in washington d.c., lawyer said there telling the truth to my future stella's you think they have the right idea, but in most cases it is -- it is about ideologies. we have screwed up national leaders in this country. that is the biggest single negative in my opinion in our markets. gerri: i agree. what do you have tonight? >> well, speaking of markets, a liquid asset business manager
6:47 pm
for fortress, we will be talking about these issues. he is one of the leading investors, macroeconomics fund leaders in the country. he will be here to talk with us. you'll be talking with general david grainger of what is happening in north korea. a posture that the united states is adopting. a white canvas tonight and as usual, to get to the truth of the moment we live in. gerri: and you're only 13 minutes away. >> thirteen minutes away. thank you for coming on. always good to see you but. gerri: well, now on to the irs. the latest developments of a story we have been following according to usa today. the irs is making a loss time. thanks to congress to do is we time last december the ira said to weigh about ten days before they started processing returns. as of march 22nd they have processed 6% fewer returns than last year. 77 million versus 802 million.
6:48 pm
but the gap is 13% to miss a they're making progress slowly, ever so slowly. still to come, my "2 cents more" on an ironic month naming project from the white house. when is your child genius? this kid's mother said yes after reed sold a computer program for millions. is it nature and nurture? ♪
6:49 pm
gerri: 17 years old, and he did so this company for millions of dollars. how you raise a kid like that? is the nature and nurture? coming up next. ♪
6:50 pm
6:51 pm
6:52 pm
♪ gerri: you probably read the story as a -- the british teenager who sold his application for $30 million. that story read and edit the debate over raising kids in the digital age. can you raise the next superstar teenager. have me killed by friday. thank you for cover in the show. you are in a great position to answer this question. our kids smart because they were born a boy or because their parents develop an environment that makes them the way? >> well, genetics is a huge part of that. carmarthen marriage apart. the map be interested to know the first born children rule. the true research said the. press where children have a higher iq.
6:53 pm
there are the very -- your entrepreneurs, how your ledger boards, particularly middle children like the bill gates of the world, donald trump. gerri: i thought there were cranky and ornery like me. >> that is a bad rap. a geeky debt that will put together some great at that -- >> this genius is an only child. our parents good at recognizing true talents or are they all just the same, thinking that their kids are brain surgeons and will find a cure for cancer tomorrow? >> no. most parents are clueless, to
6:54 pm
put it bluntly. and they think that will be referred is just the most wonderful, smartest kids in the world. i am old enough to remember how when kids used to obey their parents. no parents of decades. it had he chosen to go to bed yet? what's wrong with that picture. gerri: i want to talk to you about kids and technology. vestar we have been falling for some time. to to to% have access to mobile devices. now we're starting to see parents make that decision whether little children should have access to an ipad. people wonder if it is true that it turns their brains into jelly or is actually a good learning tool. >> it is crazy. >> we're putting things in their hands too early. there is something wonderful about growing out. all little my a.m. today to your
6:55 pm
approach to life. looking for chemistry for three-year-old. >> a girlfriend told me that her fellow parents of kindergartners are asking what of the kids have homework. because they are kindergartners. let me ask you this. heavy media users reporting lower grades. does that surprise you? >> not all. i have a daughter who can text like a woodpecker that has a phd. i can't imagine how she can't texas because she does. moderation is a great thing. today's kids don't play anymore. it'll play. they have played dates arranged by parents. they come home, slam the door
6:56 pm
and go on the internet. they are not learning to be relational. there is one thing that you need to be in business these days, guess what to relational. gerri: are just in life. that you were coming out tonight. >> let's do it is insidious next time. gerri:, said. that's the way to do it. we will be right back. stay with us. ♪ the american drm is of a better future,
6:57 pm
6:58 pm
a confident retirement. those dreams have taken beating lately. but no way we're going to let them die.
6:59 pm
♪ ameriprise advisors can hel keep your dreams alive like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. and that's what they can do with you. that's how ameriprise puts more within reach. ♪ gerri: april is national capability month. it is according to president obama who, get this, calls upon all americans to observe the month with programs and activities to improve the understanding of financial principles and practices. this administration is dedicating an entire month to helping people make good budgetsizations, the same president whose budget has been late for four of the last five years, and the same president who increased th

24 Views

info Stream Only

Uploaded by TV Archive on